LTC Wall Observer - BTC-e wall movement tracker

Quote from: jubalix on March 11, 2013, 03:48:33 PM

Quote from: Technomage on March 11, 2013, 09:20:50 AM

I put this in another thread as well, but it fits here also:

If LTC rises faster than BTC at this time, it's a Tulip bubble. Trust me on this. People aren't really thinking it through, the rise is not based on anything else than technicals. I looked at LTC recently to see if I should diversify my Bitcoin holdings, but I came to the conclusion that there is absolutely nothing to see there. Litecoin is used exactly for 1 thing, mining new litecoins to either sell them for bitcoins or dollars, or to hoard them (which is is highly questionable since it's a Tulip bubble).

Nothing else whatsoever is going on in the Litecoin economy. The technology itself does not have any significant advantages to Bitcoin, making it near impossible for Litecoin to even slightly challenge the network effect of Bitcoin. So, again, you might see LTC price rise temporarily at a higher rate than BTC, but there is nothing real going on. The whole LTC economy is based on people mining new LTC's, it's a dead end loop.

the tulipers calling the tulipers etc etc

LTC as I see it has one huge advantage, gpu miners, and gpu cards are going to outstrip ASIC miners in thier power and rate of production and mass distribution, so gpu will find a much broader base, already, the centralisation of ASICS is a bad thing IMHO

this may have bee a flaw in BTC system

but then....something better may come out and take over LTC

...!

Also alot of people want to be early adopters so may just cash out of BTC to LTC so they can be and in the process it becomes a self fulfilling prophecy.....

one has to see the amusing aspects of how bitcoin cheerleaders bash other alt coins without really thinking through their arguments.
Sure some alt coins were pretty silly but litecoin seems to have the best chance at this moment in time.

i agree with gpu users being a much broader base but I do not understand the power aspect of it. you are comparing apples to oranges
when it comes to how each coin user's mine/algorithms. But in the end, dedicated asics, at least short to medium turn, puts all the
mining power into very few people's hands compared to today.

i for one, when I can no longer mine bitcoin with gpu, will probably just stop using bitcoin and move to something else where I do not
have to order asic gear from sketchy startup companies who are run by very odd people. The only reason I might still use btc at that
point is to sell an alt coin for btc to more easily sell it for usd. But that could change. I cannot possibly be the only one researching this.